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The Effects of "Bubble" Economy and Financial System : Theory and Practice

Research Project

Project/Area Number 07630092
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field Public finance/Monetary economics
Research InstitutionWaseda University

Principal Investigator

YABUSHITA Shiro  School of Political Science & Economics, Professor, 政治経済学部, 教授 (30083330)

Project Period (FY) 1995 – 1996
Project Status Completed (Fiscal Year 1996)
Budget Amount *help
¥1,100,000 (Direct Cost: ¥1,100,000)
Fiscal Year 1996: ¥300,000 (Direct Cost: ¥300,000)
Fiscal Year 1995: ¥800,000 (Direct Cost: ¥800,000)
KeywordsFinancial system / bankrun / main bank / asymmetric information / advense selection / moral hazard / macroeconomic fluctuations / バブル経済 / 情報の経済学 / モラル・ハザード / 情報の不完全性
Research Abstract

The object is to consider financial markets with uncertainty and imperfect information and to analyze the behavior of financial institutions, allocation of funds and macroeconomic movements in such economies.
1. Financial System and the Theory of Information. I analyzed several topics related to monetary and financial economies with imperfect information, for examle, capital market and finacial intermediaries, theoretically, empirically and historically. (1) Main bank system, which is a feature of Japanese financial system, is a device of solving informational problems in financial markets. But imperfect information gives Main bank monopolistic position so that banks compete excessively for monopolistic rents. (2) Since banks face liquidity risk, bankruns and financial panics may occur if depositors cannot distinguish good banks from bad ones. They may destablize financial system. (3) I made it clear that the Bank Panic in 1927 was caused by moral hazard in bank management.
2. Bank Capital, Loan and Macroeconomic Fluctuation. I show that banks' loan is strongly related to their capital and liability and this relationship may destablize the economy.

Report

(3 results)
  • 1996 Annual Research Report   Final Research Report Summary
  • 1995 Annual Research Report
  • Research Products

    (12 results)

All Other

All Publications (12 results)

  • [Publications] Yabushita, Shiro: ""Economic Fluctuation, the Instability Financial System and Deflationary Effect", (in Japanese)" Kinyu-Kozo-Kenkyu. No.17. 21-29 (1995)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Yabushita, Shiro: ""Present & Financial Instability and Financial Criois of 1927", (in Japanee)" Regional Banking. Vol.45 No.6. 2-8 (1995)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Yabushita, Shiro: ""Bank Equity, Loans and Macroeconomic Fluctuation", (in Japanese)" The Waseda Journal & Political Science and Economics. No.325. 177-219 (1996)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Yabushita, Shiro: ""Bank Behavior, Credit Crunch and Asset Markets"(in Japanese)" Chiiki-Kinyu-mondai-kenkyu. No.3. 115-139 (1996)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] Yabushita, Shiro: Financial System and the Theory of Information. Tokyo University Press, (1995)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1996 Final Research Report Summary
  • [Publications] 薮下史郎: "経済変動,金融システムの不安定性とデフレ効果" 金融構造研究. 第17号. 21-29 (1995)

    • Related Report
      1996 Annual Research Report
  • [Publications] 薮下史郎: "平成の金融不安と昭和金融恐慌" リージョナルバンキング. 第45巻第6号. 2-8 (1995)

    • Related Report
      1996 Annual Research Report
  • [Publications] 薮下史郎: "銀行の自己資本・貸付とマクロ経済変動" 早稲田政治経済学雑誌. 第325号. 177-219 (1996)

    • Related Report
      1996 Annual Research Report
  • [Publications] 薮下史郎: "銀行行動,貸し渋り,および資産市場" 地域金融問題研究. 第3号. 115-139 (1996)

    • Related Report
      1996 Annual Research Report
  • [Publications] 薮下史郎: "金融システムと情報の理論" 東京大学出版会, 280 (1995)

    • Related Report
      1996 Annual Research Report
  • [Publications] 藪下 史郎: "銀行の自己資本・貸付とマクロ経済変動" 早稲田政治経済雑誌. 325号(近刊).

    • Related Report
      1995 Annual Research Report
  • [Publications] 藪下 史郎: "金融システムと情報の理論" 東京大学出版会, 280 (1995)

    • Related Report
      1995 Annual Research Report

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Published: 1995-04-01   Modified: 2016-04-21  

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